AXS Investments LLC Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

AXS Investments LLC bought a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 170 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds have also modified their holdings of ABG. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter valued at $28,000. DekaBank Deutsche Girozentrale purchased a new stake in Asbury Automotive Group in the 3rd quarter worth about $36,000. GAMMA Investing LLC purchased a new stake in Asbury Automotive Group in the 4th quarter worth about $48,000. Blue Trust Inc. lifted its stake in Asbury Automotive Group by 31.2% in the 4th quarter. Blue Trust Inc. now owns 244 shares of the company’s stock worth $56,000 after acquiring an additional 58 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new stake in Asbury Automotive Group in the 3rd quarter worth about $202,000.

Insider Buying and Selling

In related news, SVP Jed Milstein sold 3,955 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the transaction, the senior vice president now owns 8,300 shares in the company, valued at approximately $1,734,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABG has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research report on Thursday, February 8th.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $231.30 on Monday. The business has a 50 day moving average price of $224.14 and a 200 day moving average price of $216.81. Asbury Automotive Group, Inc. has a twelve month low of $178.40 and a twelve month high of $256.39. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 8.43 and a beta of 1.19. The company has a quick ratio of 0.38, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $7.21 EPS for the quarter, missing analysts’ consensus estimates of $7.76 by ($0.55). Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the business posted $8.37 EPS. Asbury Automotive Group’s revenue was up 17.3% compared to the same quarter last year. Research analysts predict that Asbury Automotive Group, Inc. will post 29.66 earnings per share for the current year.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.